Cairo – Mubasher: Edita Food Industries signed a medium-term loan agreement with the National Bank of Kuwait - Egypt (NBK Egypt).

The seven-year loan amounts to EGP 96 million and will be used to finance the company’s capital expenditures in Egypt, according to a bourse disclosure on Thursday.

In addition, Edita revealed that its subsidiary Digma inked a five-year loan deal worth EGP 155 million with Credit Agricole Egypt to finance the company’s distribution network expansion.

Over the course of 2019, the food producer’s net profits hiked to EGP 409.46 million from EGP 336.89 million in 2018, including minority shareholders’ rights.

NBK Egypt logged net profits of EGP 2.168 billion last year from EGP 2.002 billion a year earlier, while Crediti Agricole Egypt’s net profits amounted to EGP 2.36 billion in 2019 from EGP 2.2 billion in 2018.